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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Boplicity who wrote (51845)	5/23/2000 5:20:00 PM
From: HairBall	Read Replies (1) \| Respond to of 99985

Gregory: I posted some charts this morning before the bell. My Wow COMPX chart has a 90 Rising Trading Channel I identified years ago on it. I expect the NAZ to eventually move back inside that trading range, but not in a straight line obviously. A look at the chart will give you my likely and worse case scenarios. I would not be surprised to see a strong bounce when the NAZ first reaches the upper boundary of that trading channel. Message 13756324 Someone else will need to help you regarding a place to find PE's. Regards, LG

To: Boplicity who wrote (51845)	5/23/2000 6:24:00 PM
From: John T.	Read Replies (2) \| Respond to of 99985

Gregory -- Here are some downside targets for the NASDAQ Composite. Pick one: 1. Gap support between 2919 and 2875. 2. Small head and shoulders pattern with a down side target of 2750. 3. Very large head and shoulders pattern with a down side target of about 2650. 4. The October 18, 1999 low of 2632. 5. Symmetrical triangle with a down side target of about 2505. 6. The long term trend line from 1994. Accoring to Helene Meisler of theStreet.com, 2000 is a possible downside target for the Nasdaq Composite. Meisler suggested: "that the longer-term trendline dating back to the last real low in the market (1994) came in around 2000 on my chart. It doesn't have to get back there, but it could." --OR-- We double bottom tomorrow and never see these lows again! Here's a chart that someone made: geocities.com

To: Boplicity who wrote (51845)	5/23/2000 7:29:00 PM
From: Road Walker	Read Replies (1) \| Respond to of 99985

Gregory, re: NASDAQ PE The WSJ publishes some index PE's every Monday, but not the NASDAQ. For what it's worth, from yesterday's WSJ: DJI - 21.10; year ago - 26.80 DJT - 9.00; year ago - 18.00 (humm) DJU - 14.80; year ago - 19.60 S&P 500 - 29.21; year ago - 35.28 From the above, it's obvious that we have been in a earnings valuation correction for the last year, at least (S&P up 5.76% last 12 months). I would love to have the same info on the Nas compx and ndx. Never seen it anywhere, maybe someone else has. John